Friday, November 05, 2010
K Street Developer Proposes Music Venue
D&S Development is proposing a 500 people music venue on the700 block and former site of the Men’s Wearhouse. This would be part of a mixed-use projects on the corridor long considered ground zero for the rebirth of downtown Sacramento.
According to the Sacramento Business Journal, “The multi-tiered concert space will sit on the corner of K and 7th streets, alongside local retailers and restaurants with a “Main Street” feel of second-story apartments inside K Street’s historic shops. That’s according to D&S Development, one of the partners negotiating with the city to remake the 700 block and enhance nightlife along the corridor.
The urban renewal can’t come soon enough for Sacramento, which will have invested more than $60 million in remaking two blocks of K Street if projects proposed there are built. While the city is looking to complete these deals, it also is examining the post-recession course for infill and redevelopment.
There has been $617 million invested in downtown over the past five years in 22 projects and all but five were to have been public-private partnerships. The K street projects on the 700 and 800 blocks also will be public-private partnerships that rely on subsidies.
After touring the buildings on the 700 block, D&S Development dropped the number of proposed apartments there from 136 to 125 and increased the retail space to about 60,000 square feet."